Strong Rebound in US Single-Family Permits at the Start of 2024

By Danushka Nanayakkara-Skillington
NAHB – Eye on Housing
March 15, 2024
Category: Finance & Economics
Region: United States

Over the first month of 2024, the total number of single-family permits issued year-to-date nationwide reached 75,906. On a year-over-year (YoY) basis, this is an increase of 43.1% over the January 2023 level of 53,062. Year-to-date ending in January, single-family permits were up in all four regions. The range of permit increase spanned 67.0% in the West to 19.4% in the Northeast. The South was up by 39.4% and the Midwest was up by 36.5% in single-family permits during this time. For multifamily permits, the regions were split, with half posting increases and the other posting decreases. The Northeast was up by 64.5% and the Midwest was up by 13.6%. The South posted a decline of 32.5% and the West declined by 27.9% in multifamily permits during this time.

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